作者：周游
作者介绍：中央财经大学法学院讲师，博士后研究人员
出版日期：2017年8月9日
内容提要 我国现代企业制度强调实现所有权与经营权分离,亦即原本在经典表述中需要法律解决的"问题",在我国却是力求促成的"目的"。问题与目的之谜的存在,是因为忽视了控制权与经营权在中国语境下之严格区分:在形式上,实现所有权与经营权分离是为了塑造独立的市场主体;而在实质上,实现所有权与控制权结合是企业发展的命门,无论是国企还是私企,在分离出经营权的同时有必要也有能力保有控制权。然而,中国公司法对这一现实的回应并不十分到位。对于形式上的分离,立法需关注有限责任公司多为所有权与经营权合一而非分离的治理结构。对于实质上的结合,立法需考虑多元化商业模式影响下不同控制权配置途径的实现可能性。
关键词 两权分离 控制权 经营权 现代企业制度 中国公司法
Abstract: Chinese modern enterprise system underlines the separation of ownership and management, which is supposed to be a "problem" that must be solved by law according to the classical statement, now becomes a "purpose" that we strive to achieve in China. The enigma of problem and purpose resulted from ignoring the strict differentiation between control and management in Chinese context: in form, the separation of ownership and management is necessary to shape independent market entities; while in essence, the combination of ownership and control is vital for the growth of enterprises since it is necessary and possible for Chinese enterprises, either state-owned or privately owned ones, to keep control while separating management from ownership. Chinese Company Law, however, does not have a proper response to such an enigma. Concerning the separation in form, it is necessary to pay attention to the special governance structure of limited liability companies which in most cases would not separate the management from ownership. With regard to the combination in essence, it is important to take into account the possibility of different corporate control arrangements arising from diversified business models.